Press release
Global Market Study on Insulin Delivery Devices: A CAGR of 7% Estimated over 2014-2020, North America to Remain Largest Market
Persistence Market Research Released New Market Report on "Global Market Study on Insulin Delivery Devices - Asia to Witness Highest Growth by 2020" the global insulin delivery devices market is estimated at USD 9,391.1 million in 2014 and is expected to grow at a CAGR of 7% from 2014 to 2020, to reach anestimated value of USD 14,093.3 million in 2020.
The insulin delivery devices market is witnessing a significant growth due to the increasing prevalence of diabetes and rising obese endemic. In addition, advanced features of insulin delivery devices and rising awareness among people about diabetes care are also supporting in the growth of the global insulin delivery devices market.
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Some of the major players operating in the market:
• Abbott Laboratories.
• Novo Nordisk A/S.
• Eli Lilly and Company.
• Medtronic, Inc.
• Sanofi, Becton.
• Dickinson and Company.
• F. Hoffmann-La Roche, Ltd.
However, risk and complications associated with the delivery of insulin and high cost of insulin analog hampers the growth of global insulin delivery devices market. As a result, the global insulin delivery devices market is expected to grow a CAGR of 7% during 2014-2020.
North America has the largest market for insulin delivery devices. Increasing prevalence of diabetes and the rising number of overweight and obese people are key drivers of the insulin delivery devices market in the region. In addition, the rising number of elderly people is also supporting the growth of the insulin delivery devices market in the region.
Similarly, the European insulin delivery devices market is mainly driven by the increasing prevalence of diabetes, rising awareness among people about diabetes treatment, technological advancements in insulin delivery devices and increasing aging population.
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In Asia, insulin delivery devices market is growing due to rising aging population and increasing prevalence of diabetes. In addition, several government initiatives are increasing awareness about diabetes treatment which would increase the demand for insulin delivery devices in the region.
In Latin America, construction of manufacturing and research facilities by many companies is driving factor the insulin delivery devices market in the region.
Segment Analysis
Based on the type of device, the global insulin delivery devices market is segmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injections. While insulin syringes are user-friendly and self-administrable, insulin pens are compact in size and can be prefilled or reusable.
Insulin jet injections are needleless, whereas insulin pumps are easily wearable by patients. Each of the device type has a unique attribute; however insulin pumps are projected to be a key segment driving major revenues to the market. The introduction of advanced insulin delivery devices, such as portable insulin pumps, will propel the market for insulin pumps in the next few years.
By Device
• Insulin Syringes
• Insulin Pens
• Insulin Pumps
• Insulin Jet Injectors
By Geography
• North America
• Europe
• Asia
• Latin America
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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